A hierarchy of skills approach to teaching accounting present value |
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| Affiliation: | 1. Department of Accounting, University of Pretoria, Pretoria 0002, South Africa;2. Department of Accounting, University of Pretoria, Lynwood Road, Pretoria 0002, South Africa;1. Virginia Commonwealth University, 301 W. Main Street, Box 844000, Richmond, VA 23284-4000, United States;2. Northern Kentucky University, United States;3. Virginia Commonwealth University, United States;1. LOUISIANA STATE UNIVERSITY, Department of Accounting, E. J. Ourso College of Business, Baton Rouge, LA 70803, United States;2. WEST VIRGINIA UNIVERSITY, Department of Accounting, John Chambers College of Business and Economics, Morgantown, WV 26506-6025, United States;3. INDIANA UNIVERSITY, Kelley School of Business Indianapolis, BS4012, 801 W. Michigan Street, Indianapolis, IN 46202-5151, United States;1. Department of Business Administration of the Agricultural and Food Sector, Justus Liebig University Giessen, Senckenbergstr. 3, 35390 Giessen, Germany;2. School of Accounting, University of Economics Ho Chi Minh City, 279 Nguyen Tri Phuong, Ho Chi Minh City 700000, Viet Nam;1. Department of Management, PO Box 56, Otago Business School, University of Otago, Dunedin, New Zealand;2. Department of Accountancy and Finance, PO Box 56, Otago Business School, University of Otago, Dunedin, New Zealand;3. College of Education, PO Box 56, University of Otago, Dunedin, New Zealand;4. University of Queensland, Brisbane, Australia;5. Office of Student Success, PO Box 56, University of Otago, Dunedin, New Zealand |
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| Abstract: | This paper demonstrates how to teach accounting present value in a way which separates individual topics and progresses from skills which are easily learned to activities which require abstraction and integration. The method stresses a visual frame of reference, and explains the relationship between the interest rate and the flow of funds in a business transaction according to a simple funds inflows equals funds outflows rule. The approach is consistent with accepted learning theory, and is especially helpful for students who have difficulty with algebra. |
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